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Documentation for Self Employed

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Anonymous
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Documentation for Self Employed

I feel like I've read somewhere that if closing on a mortgage later in the year the underwriter will want to see a year to date P&L on your business. It looks like we will be closing mid April. Is this far enough into the year for the P&L to be necessary? I worry because most of my business income comes from the last half of the year and I don't want the loan to be rejected because sales at the beginning of the year are historically slower.

Message 1 of 3
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Anonymous
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Re: Documentation for Self Employed

Anyone?

Message 2 of 3
DallasLoanGuy
Super Contributor

Re: Documentation for Self Employed

can you document that seasonality of the cash flow? if so, no problem

 

Retired Lender
Message 3 of 3
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